- General
- November 27, 2020
- 5 minutes read
Ray Dalio To Launch Singapore Office
Ray Dalio, the billionaire investor who is the founder of the world’s biggest hedge fund Bridgewater Associates, is launching a family…
Ray Dalio, the billionaire investor who is the founder of the world’s biggest hedge fund Bridgewater Associates, is launching a family office in Singapore to cater to his investments throughout the Asian region. His move isn’t surprising, given that Dalio, who is worth over $15 billion per Bloomberg rankings, has long-held ties to Singapore and Asia at large.
Dalio is the latest business tycoon to open an office in Singapore, following the British inventor James Dyson and Chinese billionaire Shu Ping. Singapore has long been an attractive spot for family offices for international tycoons looking to invest in Asia and has scored another apparent win with Dalio’s move to launch his own office there.
Family offices are dedicated firms that handle investment management and wealth management for wealthy families, usually for families with over $100 million in investable assets. They are common across global financial hubs such as New York, London, Shanghai, Tokyo, and lately Singapore.
As an investor, Dalio has bet on many technology companies via his hedge fund which manages well over $100 billion of assets. His fund, Bridgewater Associates, has a current portfolio that spans tech companies like Adobe, AMD, Activision Blizzard, Alibaba, and Alteryx.
This year, Bridgewater saw significant losses including an 18.6% drop in the value of its main fund. The losses trace to tweaked investment models that spurred from the coronavirus pandemic and have placed Dalio’s flagship investment fund on track for its worst year ever.
Bridgewater seems to have put its bet on significant stock market losses that would have been incited by the coronavirus pandemic, whereas the firm made a $1.5 billion options bet on global stock markets last November and a $14 billion short against European stocks this March. However, global stock markets have largely recovered from the negative effects of the Covid-19 pandemic and led Bridgewater to absorb big losses from its bets.
Photo credit: World Economic Forum, licensed under CC BY-NC-SA 2.0
